Leading Waikato engineering firm Longveld Ltd were the first company to partner with Momentum Waikato to provide their staff with payroll giving and the automatic charity tax credit it provides.
A year into its operation, the Longveld Fund has now made its first annual grant – $1800 of its income has been donated to the mental health service Centre 401-Te Whare Whaa Rau Ma Tahi.
The company matches the funds contributed by its staff to multiply their collective impact. Momentum Waikato invests this capital, and the resulting income is then available for disbursement according to the donors’ wishes.
Managing Director Pam Roa says those Longveld team members committed to payroll giving decided that, since it was their first grant and they wanted to promote the scheme internally, they would ask all of the staff which sector should receive it.
“The popular choice was mental health and wellbeing support, so we selected the Centre 401 Trust for their work in this field in our region,” says Pam.
“The Longveld Fund is a great way for the team to have a say in who the business supports philanthropically, instead of it being a management decision. It also spreads the joy of supporting the community that supports us and our whanau.
“The more successful we are, the more capacity we have to give, and our team is directly responsible for our success, so we want them to have an active say in where we give. Payroll giving is a really pro-active way to do this.”
Staffer Leanne Summers appreciates the opportunity of payroll giving.
“Because it’s automatic, I don’t even notice the minimal amount I regularly donate from my pay packet. For the cost of less than a cup of coffee per week, I am making a lasting contribution to those in need, both now and, as the funds grow, into the future,” says Leanne.
“Payroll giving also means my donations immediately include a tax credit. The initiative invests and grows the funds that are donated, so the contributions I make become a lasting investment that will benefit generations to come.
“Centre 401 was a great Waikato-based choice for our first grant. Due to my own personal experience supporting family and friends through mental health issues, I realised there is not enough funding to provide adequate support, education or advice to people facing these challenges, whether it is themselves or a loved one.”
Contact us to find out how Momentum Waikato can help your business make the most of payroll giving.